I have no trend, I have no trend, seems to be this markets mantra at the moment. It would appear as every time we have positive news for the market, we have negative news that follows which pretty much negates all of the positive news. That seems to be the major theme for August. Take today for example.
(GOOD NEWS) Industrial Production in US Rises 0.6% on Autos, Utilities
(GOOD NEWS) Homebuilder Confidence in US Increases to Five-Year High
(BAD NEWS) Staples Net Falls 32% on Weak International Sales; Cuts Year View
(BAD NEWS) Slipping international sales zap Deere 3rd-qtr earnings
I could go on, but I think you get the picture.
Eventually, the stalemate will be over and the market will resume in a direction for more than one day. We are relying on our Trade Triangle Technology as we know mathematically that the odds are on our side when we use this approach. I hope you were able to catch yesterday's video as we highlighted a major stock, and I stepped you through every signal since 2004! The results speak for themselves.
Stay tuned to today as I have a special surprise for all MarketClub Members that will come at the end of today's video.
Now, let's take a look at the charts and our very own Trade Triangle technology and see what's happening in the markets.
